Pharmaceutical major Ranbaxy Laboratories on Wednesday reported 89.91% year-on-year decline in its consolidated net profit to R125.75 crore for the first quarter ended March, mainly due to absence of contribution from exclusivities. The comapny had posted had posted a net profit of R1,246.76 crore during the corresponding period previous year.
Net sales of the company declined to Rs 2439.82 crore from Rs 3708.97 crore in the same period of 2012.
“India and key emerging markets of East Europe, Africa, and West Asia returned strong growth,” said Arun Sawhney, CEO and managing director, Ranbaxy. “The focus on differentiated products gained momentum during the quarter as we improved our market share in Absorica and received the rights to market Desevenlafaxine in USA.”